The miner and its bankers ANZ were forced to deny that the bank had withdrawn
A$1.2bn (£784m) of debt that had been earmarked for the development of
Maules Creek mine.

The fake press release was issued by Frontline Action for Coal. Spokesman
Jonathan Moylan said: “The future of our farmlands, our forests, our health,
our climate these are the biggest threats humanity faces and they are far
more important than concerns over liability.”

The fall in Whitehaven’s share price wiped A$314m off its stock market
valuation and brought a halt to trading in its shares.

The fall will do little to help the plight of Nathan Tinkler, the Australian
mining magnate who is currently facing legal action over a slew of allegedly
unpaid bills. Mr Tinkler owns a fifth of Whitehaven’s shares.

It is not known whether the campaigning group could be held liable for any
losses suffered as a result of its action.

The hoax press release is one of a string to hit the Australian market in
recent months, mostly targeted at addressing environment concerns.

Although Whitehaven was the immediate focus of the fake release it seems the
campaigners may have been aiming to affect ANZ’s business activities too.

A spokesman for the action group said: “ANZ customers have a right to know
that their money is being invested in a project which will force farmers off
their land and destroy 1,360 hectares of critically endangered koala
habitat.”

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